Today’s News Synopsis:

Aaron Norris of the Norris Group gives this week’s Norris Group real estate headline roundup.  According to the NAHB, builder confidence for multifamily properties and condominiums increased 3 points to 53.  They and HUD also reported a 25.5% increase in housing starts last month.  With Donald Trump now the President-Elect, many have been wondering what he will do for the real estate market.

In The News:

NAHB – “Housing Starts Jump 25.5 Percent in October” (11-17-16)

“Led by impressive gains in both single-family and multifamily production, nationwide housing starts surged 25.5 percent in October to a seasonally adjusted annual rate of 1.32 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department.”

New York Times – “What Will a Trump Presidency Mean for New York Real Estate?” (11-18-16)

“Two months ago, Pierre E. Debbas, a partner at the boutique law firm Romer Debbas, was representing a couple buying a Manhattan condominium who wanted the option to back out of the deal if Donald J. Trump won the election.”

Construction Dive – “NAHB: Builder confidence for multifamily strong in Q3” (11-18-16)

“Builder and developer sentiment on the outlook for apartment and condominium construction inched up three points from the second quarter to a score of 53 in the third quarter, according to the Multifamily Production Index released yesterday by the National Association of Home Builders.”

Bloomberg – “Trump Said to Be Close to Settling Real-Estate School Suits” (11-18-16)

“President-elect Donald Trump is preparing to settle lawsuits accusing his defunct university of ripping off thousands of students with bogus real-estate seminars, a person familiar with the matter said.”

Mortgage Bankers Association – “MBA Commits $100,000 to Diversity and Inclusion Scholarships” (11-18-16)

“The Mortgage Bankers Association (MBA) today announced that it would dedicate proceeds from its 3rd Annual Summit on Diversity and Inclusion, totaling $100,000, to its Path to Diversity & Inclusion Scholarships.”